Revolut Expands Services to Thousands of Indian Users Ahead of Full Launch

British fintech company Revolut has quietly begun rolling out its services in India as part of a controlled beta phase, setting the stage for a larger launch. This is a pivotal move in its efforts to secure a presence in the rapidly expanding digital payments market in the country.

Earlier this year, Revolut started allowing signups for its app in India, and in recent weeks, select waitlist users have been granted access to its services, according to reports from TechCrunch. The company has confirmed this gradual rollout, noting that several thousand users in India are now active on the platform.

This phased launch is a significant milestone in Revolut’s long-term plan to enter the Indian market, which is a crucial player in digital payments, bolstered by the federally supported Unified Payments Interface (UPI) that has transformed monetary transactions for individuals and businesses alike. UPI currently represents nearly half of the global real-time payments transaction volume, handling a record 23.2 billion transactions valued at ₹29.9 trillion (around $313.8 billion) in May, according to government data.

A spokesperson for Revolut told TechCrunch that the company is in the process of “controlled onboarding of waitlisted users.” They also mentioned that a beta version of the app specifically designed for Indian users is available on both the Google Play Store and the Apple App Store.

“This initiative is designed to gather feedback on essential product functionalities and enhance overall customer experience and value before expanding availability to a broader audience,” the spokesperson stated.

As it stands, the rollout is restricted to a small segment of the company’s approximately 450,000 waitlisted users.

Beta participants are able to access features like UPI payments, e-money wallets, domestic prepaid cards, multi-currency cards, virtual cards, and disposable cards, as per the company’s announcement. Revolut plans to introduce its Lifestyle and RevPoints offerings as it continues to expand the beta. However, family accounts, offered in certain international markets, will not be available in India because such products require a banking license, the company clarified.

Revolut has been preparing for its India operations since 2021, appointing fintech executive Paroma Chatterjee to oversee the local strategy. In 2022, the London-based firm acquired Arvog Forex to strengthen its regulatory standing in the country and to provide remittance and multi-currency account services. It subsequently secured a prepaid payment instrument (PPI) license from the Reserve Bank of India, which permits the issuance of prepaid cards, the support of digital wallets, and integration with the UPI network.

The company has shared with TechCrunch its intention to allow direct onboarding for all users in the “near future,” although no specific launch date has been provided. Chatterjee had previously indicated in a LinkedIn post that a full product launch in India is aimed for Q2.

Revolut is focusing on India’s growing base of digitally savvy consumers as it seeks to compete against established banks and fintech firms within one of the most competitive financial services markets globally. The company aims to reach over 150 million “globally aspiring, digitally native” Indians aged 25 to 45, with a goal of onboarding around 20 million users by 2030 and processing at least $7 billion in transactions.

Interest in Revolut is rising as it prepares for a broader launch in India. Estimates from Sensor Tower shared with TechCrunch indicate that Revolut’s app has achieved nearly 820,000 downloads in India since its launch in app stores. More than a third of these downloads occurred in 2025 and the early months of 2026.

While Revolut’s major download markets continue to be in Europe—led by France, the U.K., Spain, Italy, and Germany—the company is increasingly focusing on emerging markets for growth. Sensor Tower also reports a surge of 40% and 52% in downloads in Thailand and Vietnam, respectively, in 2025, while downloads in Brazil jumped 487% year over year to 1.8 million, highlighting the importance of markets like India for its long-term expansion strategy.